Remitly Global (RELY) Q2 2026 Earnings
Includes a $140.6 million discrete tax benefit from the U.S. valuation allowance release, which contributed to a $(141,264) thousand benefit from income taxes in Q2 2026 versus $1,578 thousand provision in Q2 2025
How Did RELY Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −0.34%.
Did RELY Beat Earnings? Q2 2026 Results
Yes. Remitly Global reported Q2 2026 earnings of $0.93 a share on Aug 5, 2026, beating the $0.31 consensus estimate by 196.3%. Revenue was $495.2M against a $486.0M estimate.
Remitly Global delivered a decisive beat in the second quarter of 2026, with revenue of $495.16 million rising 20.2% year over year and clearing the $485.97 million consensus by 1.89%, while GAAP EPS of $0.93 came in well above the $0.31 analyst estimate, a 196.27% beat. That reported EPS figure, however, reflects GAAP results that include a $140.60 million discrete tax benefit from the release of the company's U.S. deferred tax asset valuation allowance, which produced a $141.26 million income tax benefit in the quarter versus a $1.58 million provision a year ago. Setting aside the tax item, the underlying business showed genuine operating momentum, with Adjusted EBITDA expanding 79% to $114.74 million and transaction margin widening 235 basis points to 67.4% on improved network economics. Quarterly active customers crossed 10 million for the first time, reaching 10.2 million, and the recently launched Remitly Global Card, a multi-function product targeting cross-border workers, adds a potential long-term revenue layer to the platform. Management raised its full-year 2026 revenue outlook to $1.98 billion to $1.99 billion and lifted Adjusted EBITDA guidance to $410 million to $415 million.
- Active customers grew 20% YoY to 10.2 million
- Send volume grew 27% YoY to $23.5 billion
- Transaction margin expanded 235 basis points YoY to 67.4%
- Lower transaction expenses from improved network economics
- Lower transaction losses as a percentage of send volume
- AI-driven operating efficiencies across customer support, technology, and G&A
- 80%+ of customers added in Q2 were new to Remitly
- $140.6 million discrete tax benefit from U.S. valuation allowance release boosted net income
“We delivered another excellent quarter, achieving record revenue, Adjusted EBITDA, and net income, while surpassing 10 million quarterly active customers for the first time in our company's history, a direct reflection of the trust and confidence customers place in Remitly.”
Remitly Global CEO, on the earnings call
What Is Remitly Global's Outlook?
For fiscal year 2026, Remitly raised its outlook and now expects total revenue of $1.978 billion to $1.988 billion (21-22% YoY growth), year-over-year growth in net income, and Adjusted EBITDA of $410 million to $415 million (approximately 21% Adjusted EBITDA margin). For Q3 2026, the company expects revenue of $505 million to $507 million (20-21% YoY growth) and Adjusted EBITDA of $92 million to $94 million (18-19% Adjusted EBITDA margin).
RELY YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $495.2M | $411.8M | +20.2% |
| Gross Profit | $334.0M | $243.0M | +37.4% |
| Operating Income | $66.7M | $14.6M | +355.4% |
| Net Income | $205.9M | $6.5M | +3,050.4% |
When Does Remitly Global Report Next?
Figures from SEC filings and company reports. Not investment advice.